N 2010 A GROUP of students at Aalto University, just outside Helsinki, embarked on the most constructive piece of student activism in the history of the genre. They had been converted to the power of entrepreneurialism during a visit to the Massachusetts Institute of Technology. When they got home they organised a “summer of start-ups” to spread the word that Finland’s future lay with new companies, not old giants. The summer of start-ups turned into a season of innovation.

The fashionable argument now is that Nokia’s decline is “the best thing that ever happened to this country”.

The fact that Nokia has demonstrated its ability to defeat Apple — after the most bitterly contested patent dispute that this industry has seen to date — is a clear proof of concept. Other companies whom Nokia will ask to pay royalties will have to think very hard whether to pay or pick a fight.

This is also very significant with a view to Android. Given that Android is in many ways a rip-off of Apple’s operating software, Android-based devices are highly likely to infringe on largely the same Nokia patents that Apple now felt forced to pay for.

The financial structure of the agreement consists of a one-time payment payable by Apple and on-going royalties to be paid by Apple to Nokia for the term of the agreement. The specific terms of the contract are confidential.

“We are very pleased to have Apple join the growing number of Nokia licensees,” said Stephen Elop, president and chief executive officer of Nokia. “This settlement demonstrates Nokia’s industry leading patent portfolio and enables us to focus on further licensing opportunities in the mobile communications market.”